RBI slaps Rs 7 cr penalty on SBI for violating various norms

The penalty has been imposed on the bank for non-compliance of income recognition and asset classification (IRAC) norms.

SBI's Anshula Kant appointed MD and CFO of World Bank

As Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group.

The e-auction of Rajashree will take place on July 22 while that of Shree Vaishnavi on July 29.

The matter came to light when a new branch manager who took charge found Rs 19 lakh cash missing from the locker.

The consortium of 26 bankers led by State Bank took the grounded Jet Airways to NCLT to recover their dues of over Rs 8,500 crore.

As per data from RBI, gross loans and advances in state-run banks came in at 638.2 bn rupees, as of March 31, 2019.

In his resignation, he expressed inability to continue beyond July 23, 2019, the RBI said.

In first week of June RBI had lowered the repo rate to 5.75 per cent.

SBI reported 6,793 fraud cases involving Rs 23,734.74 crore followed by HDFC which recorded 2,497 cases involving Rs 1,200.79 crore

New framework provides some leeway to lenders and encourages them to refer cases to IBC, said SBI in its report.